SanDisk Drops Most in Six Years After Cutting Sales Forecast
This article is for subscribers only.
SanDisk Corp. shares dropped their sharpest in six years, after the maker of data-storage chips for mobile devices cut its revenue forecast.
Revenue will be about $1.3 billion for the three months ending March 29, compared with as much as $1.45 billion previously projected, the Milpitas, California-based company said in a statement Thursday. SanDisk cited lower-than-expected sales from business products, delays to product qualification and lower prices.